Foreign Exchange Risk
First written in FY2016. 15 of 27 entries say "Restated". Latest entry: FY2026-H1.
Mimaki Engineering moved to the "Worse" side of this theme in 2018, 1 year before the typical company in this theme (2019).
The whole theme swung hardest in 2022: 5 of 11 companies on the "Worse" side.
2 other companies' latest entry also says "Restated".
- FY2026-H1RestatedAnnual report
「The principal exchange rates (average rates from April 2025 to September 2025) were ¥146.04 to the US dollar (¥152.62 in the same period of the previous year) and ¥168.06 to the euro (¥165.93 in the same period of the previous year).」
Exchange rate movements differed by currency, with the yen appreciating against the US dollar year on year but depreciating against the euro, and the company states that exchange rate fluctuations continue to affect performance. - FY2025RestatedAnnual report
「The principal exchange rates during the period under review were ¥152.57 to the US dollar (¥144.62 in the previous period) and ¥163.74 to the euro (¥156.79 in the previous period).」
The US dollar and euro both reflected greater yen depreciation than in the same period of the previous year, and the company continues to face a situation in which exchange rate fluctuations affect performance, while responding through derivatives and other measures. - FY2025-H1RestatedAnnual report
「The principal exchange rates during the period under review (average rates from April 2024 to September 2024) were ¥152.62 to the US dollar (¥141.00 in the same period of the previous year) and ¥165.93 to the euro (¥153.38 in the same period of the previous year).」
The US dollar and euro both remained weaker against the yen than in the same period of the previous year, and the positive effect of yen depreciation was a factor behind increases in revenue and profit. Exchange rate fluctuations continue to affect performance. - FY2024-Q2RestatedAnnual report
「The principal exchange rates during the period under review (average rates from April 2023 to September 2023) were ¥141.00 to the US dollar (¥133.98 in the same period of the previous year) and ¥153.38 to the euro (¥138.72 in the same period of the previous year).」
The US dollar and euro both remained weaker against the yen than in the same period of the previous year, and the company continues to explain that the positive effect of exchange rates was a factor behind increases in revenue and profit. - FY2024-Q1RestatedAnnual report
「The principal exchange rates during the period under review (average rates from April 2023 to June 2023) were ¥137.37 to the US dollar (¥129.57 in the same period of the previous year) and ¥149.46 to the euro (¥138.10 in the same period of the previous year).」
The US dollar and euro both remained weaker against the yen than in the same period of the previous year, and the company continues to explain that the positive effect of exchange rates was a factor behind the increase in revenue. - FY2023-Q3RestatedAnnual report
「The principal exchange rates during the period under review (average rates from April 2022 to December 2022) were ¥136.53 to the US dollar (¥111.10 in the same period of the previous year) and ¥140.60 to the euro (¥130.62 in the same period of the previous year).」
The company continues to explain that the US dollar and euro remained weaker against the yen than in the same period of the previous year, and that the positive effect of yen depreciation was a factor behind the increase in revenue. - FY2023-Q2RestatedAnnual report
「In addition, the positive effect of yen depreciation contributed to a substantial increase in revenue. The principal exchange rates during the period under review (average rates from April 2022 to September 2022) were ¥133.98 to the US dollar (¥109.80 in the same period of the previous year) and ¥138.72 to the euro (¥130.89 in the same period of the previous year).」
Yen depreciation was a factor behind the increase in revenue, and the average rates for both the US dollar and euro reflected greater yen depreciation than in the same period of the previous year. - FY2023-Q1MitigatedAnnual report
「The principal exchange rates during the first quarter under review (average rates from April 2022 to June 2022) were ¥129.57 to the US dollar (¥109.49 in the same period of the previous year) and ¥138.10 to the euro (¥131.95 in the same period of the previous year).」
The US dollar and euro remained weaker against the yen than in the same period of the previous year, and the positive effect of yen depreciation was a factor behind the increase in revenue. - FY2022MitigatedAnnual report
「The weaker yen against the US dollar, Brazilian real and other currencies also had a positive effect compared with the previous period.」
Yen depreciation against the US dollar, Brazilian real and other currencies was a factor behind the increase in revenue in North and Central/South America, mitigating the adverse revenue impact of yen appreciation described for the previous period. - FY2022-Q3MitigatedAnnual report
「The fact that the US dollar, Brazilian real and other currencies remained weaker against the yen than in the same period of the previous year was also a factor behind the increase in revenue.」
Yen depreciation against the US dollar, Brazilian real and other currencies was a factor behind the increase in revenue, mitigating during the cumulative quarter the adverse impact of exchange rates that had reduced revenue in the same period of the previous year. - FY2022-Q1MitigatedAnnual report
「The fact that the US dollar, Brazilian real and other currencies remained weaker against the yen than in the same period of the previous year was also a factor behind the increase in revenue.」
In contrast to the exchange rate movements that depressed profit and revenue in the same period of the previous year, yen depreciation against the US dollar, Brazilian real and other currencies was a factor behind the increase in revenue in the first quarter under review. - FY2021RestatedAnnual report
「As measures to address this risk, the company will establish a specialist foreign exchange management department and work to hedge short-term foreign exchange risk through derivatives and other instruments. It will also seek to reduce foreign-currency receivables by collecting foreign-currency-denominated trade receivables earlier, and improve its medium-term foreign currency position by promoting production in the markets where ink and other consumables are used.」
The company again confirms a combination of measures involving a specialist foreign exchange management department, derivatives, early collection of foreign-currency receivables and production in the markets where products are consumed. - FY2021-Q3RestatedAnnual report
「The fact that Latin American currencies and the US dollar remained stronger against the yen than in the same period of the previous year was also a factor behind the decline in revenue.」
The company states that yen appreciation against Latin American currencies and the US dollar was a factor behind the decline in revenue in the North and Central/South America segment, again confirming the impact of exchange rates on businesses with high overseas sales ratios. - FY2021-Q2RestatedAnnual report
「The fact that Latin American currencies and the US dollar remained stronger against the yen than in the same period of the previous year was also a factor behind the decline in revenue.」
The company states that yen appreciation against Latin American currencies and the US dollar was a factor behind the decline in revenue in the North and Central/South America segment, again confirming the actual impact of exchange rate movements. - FY2021-Q1RestatedAnnual report
「The principal exchange rates during the first quarter under review (average rates from April 2020 to June 2020) were ¥107.62 to the US dollar (¥109.09 in the same period of the previous year) and ¥118.47 to the euro (¥123.49 in the same period of the previous year). Overall, exchange rate movements were a factor depressing profit, particularly in the case of the euro.」
The company shows average exchange rates that reflected greater yen appreciation year on year, and continues to explain that exchange rate movements, particularly involving the euro, were a factor depressing profit. - FY2020-Q3RestatedAnnual report
「The principal exchange rates during the nine-month period of the third quarter under review (average rates from April 2019 to December 2019) were ¥108.67 to the US dollar (¥111.15 in the same period of the previous year) and ¥121.05 to the euro (¥129.49 in the same period of the previous year). Overall, exchange rate movements were a factor depressing profit.」
The company shows average exchange rates for the US dollar and euro that reflected greater yen appreciation year on year, and again confirms that exchange rate movements were a factor depressing profit. - FY2020-Q2RestatedAnnual report
「The principal exchange rates during the cumulative second-quarter period under review (average rates from April 2019 to September 2019) were ¥108.63 to the US dollar (¥110.27 in the same period of the previous year) and ¥121.41 to the euro (¥129.84 in the same period of the previous year). Overall, exchange rate movements were a factor depressing profit, particularly in the case of the euro.」
The company again confirms that the principal exchange rates, which reflected greater yen appreciation year on year, particularly against the euro, were a factor depressing profit. - FY2020-Q1WorsenedAnnual report
「The principal exchange rates during the first quarter under review (average rates from April 2019 to June 2019) were ¥109.09 to the US dollar (¥109.07 in the same period of the previous year) and ¥123.49 to the euro (¥130.06 in the same period of the previous year). Overall, exchange rate movements were a factor depressing profit, particularly in the case of the euro.」
Exchange rate movements, primarily involving the euro, were a factor depressing profit, explicitly indicating the impact of foreign exchange risk on performance. - FY2019-Q3WorsenedAnnual report
「Although the principal average exchange rates during the nine-month period of the third quarter under review (average rates from April 2018 to December 2018) were broadly in line with the previous year, the decline in emerging-market currencies, including the Turkish lira and Brazilian real, was a factor depressing operating results." Foreign exchange loss 221,495」
The company states that average rates for the principal currencies were broadly in line with the previous year, while the decline in emerging-market currencies depressed performance, and records a foreign exchange loss of ¥221.495 million. - FY2019-Q2MaterialisedAnnual report
「Foreign exchange loss 144,735」
A foreign exchange loss of ¥144.735 million was recorded for the cumulative second-quarter period, indicating that the impact of exchange rate fluctuations was actually reflected in earnings. - FY2019-Q1MaterialisedAnnual report
「The principal exchange rates during the first quarter under review (average rates from April 2018 to June 2018) were ¥109.07 to the US dollar (¥111.10 in the same period of the previous year) and ¥130.06 to the euro (¥122.19 in the same period of the previous year)." Foreign exchange loss 143,473」
Exchange rate movements differed by currency, with the yen appreciating against the US dollar year on year but depreciating against the euro, and a foreign exchange loss of ¥143.473 million was recorded in the income statement. - FY2018-Q3RestatedAnnual report
「A stable yen depreciation phase has continued, creating a favorable operating environment for manufacturers with high overseas sales ratios. The principal exchange rates during the third quarter under review (average rates from April 2017 to December 2017) were ¥111.71 to the US dollar (¥106.67 in the same period of the previous year) and ¥128.53 to the euro (¥118.08 in the same period of the previous year).」
The company continues to state that the stable yen depreciation phase represents a favorable environment for a company with a high overseas sales ratio, and provides the average exchange rates. - FY2018-Q2RestatedAnnual report
「A stable yen depreciation phase has continued, creating a favorable operating environment for manufacturers with high overseas sales ratios.」
The company continues to state that the ongoing yen depreciation phase represents a favorable environment for a company with a high overseas sales ratio. - FY2018-Q1MitigatedAnnual report
「The domestic economy also remained in a relatively favorable operating environment for manufacturers with high overseas sales ratios, as the yen appreciation anticipated at the beginning of the period did not occur and the economy remained in a moderate yen depreciation phase. The principal exchange rates during the first quarter under review (average rates from April 2017 to June 2017) were ¥111.10 to the US dollar (¥108.22 in the same period of the previous year) and ¥122.19 to the euro (¥122.13 in the same period of the previous year).」
The anticipated yen appreciation did not occur, and the yen depreciation phase created a relatively favorable environment for businesses with high overseas sales ratios. The principal exchange rates also moved toward yen depreciation compared with the same period of the previous year. - FY2017-Q3MaterialisedAnnual report
「The principal exchange rates during the nine-month period of the third quarter under review (average rates from April 2016 to December 2016) were ¥106.67 to the US dollar (¥121.70 in the same period of the previous year) and ¥118.08 to the euro (¥134.37 in the same period of the previous year).」
The company reports average exchange rates that reflected greater yen appreciation than in the same period of the previous year, with the impact of lower yen-denominated revenue from yen appreciation also evident during the nine-month period of the third quarter under review. - FY2017-Q1MaterialisedAnnual report
「The yen's appreciation led to a substantial decline in yen-denominated revenue.」
The company states that yen appreciation pushed down yen-denominated revenue and had an actual impact on performance in the quarter. - FY2016First statedAnnual report
「The Group is responding to yen appreciation by mass-producing inkjet printers and ink at its Chinese manufacturing subsidiary and increasing the proportion of procurement from overseas. It is also working to reduce foreign exchange risk through forward exchange contracts and other measures, but completely eliminating the impact of exchange rate fluctuations is difficult.」
The company cites production in China, overseas procurement and forward exchange contracts as countermeasures, while stating that the impact of exchange rate fluctuations cannot be completely eliminated.